Handelsbanken Fonder AB increased its holdings in Bio-Techne Corp (NASDAQ:TECH – Free Report) by 68.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 71,137 shares of the biotechnology company’s stock after acquiring an additional 28,789 shares during the period. Handelsbanken Fonder AB’s holdings in Bio-Techne were worth $4,184,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in TECH. Goldman Sachs Group Inc. boosted its stake in shares of Bio-Techne by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock valued at $62,379,000 after purchasing an additional 113,634 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Bio-Techne by 40.0% in the 1st quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock valued at $783,000 after purchasing an additional 3,814 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Bio-Techne by 506.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Bio-Techne by 1,085.7% in the 2nd quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock valued at $5,424,000 after purchasing an additional 96,527 shares in the last quarter. Finally, Natixis boosted its stake in shares of Bio-Techne by 82.6% in the 2nd quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock valued at $1,286,000 after purchasing an additional 11,306 shares in the last quarter. Hedge funds and other institutional investors own 98.95% of the company’s stock.
Analyst Upgrades and Downgrades
TECH has been the subject of a number of research reports. Stifel Nicolaus set a $50.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. Robert W. Baird set a $49.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. Evercore set a $50.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. Weiss Ratings raised shares of Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company dropped their price target on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Bio-Techne presently has an average rating of “Moderate Buy” and an average price target of $65.92.
Bio-Techne Trading Up 1.8%
Shares of TECH opened at $48.21 on Friday. The stock has a market capitalization of $7.55 billion, a P/E ratio of 69.87, a PEG ratio of 3.75 and a beta of 1.41. The company has a quick ratio of 3.18, a current ratio of 4.49 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $52.21 and a two-hundred day simple moving average of $58.23. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16.
Bio-Techne (NASDAQ:TECH – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS. On average, research analysts anticipate that Bio-Techne Corp will post 1.69 EPS for the current year.
Bio-Techne Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.7%. Bio-Techne’s dividend payout ratio is presently 46.38%.
Bio-Techne Company Profile
Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.
Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.
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